Canada commits C$193.3 million to Rio Tinto and Aluminerie Alouette aluminium projects
The Canadian government announced a C$193.3 million investment under the Strategic Response Fund to support aluminium‑processing projects in Québec. Rio Tinto will receive C$164.8 million for its C$818.5 million Saguenay–Lac‑Saint‑Jean upgrades, including a new billet casting centre and anode‑baking furnace modernisation. Aluminerie Alouette will get C$28.5 million toward its C$135 million electrolysis optimisation programme. The funding is intended to preserve roughly 6,000 full‑time jobs and cut emissions.
Why it matters
The government funding reduces the financing gap for the projects, helping maintain employment and advance decarbonisation in Canada’s aluminium sector, which may improve the companies’ operating outlook.
Key facts
- 1The investment totals C$193.3 million, announced by Minister Mélanie Joly on 23 October 2026. elliotlakestandard.ca
- 2Rio Tinto will receive C$164.8 million toward its C$818.5 million Saguenay–Lac‑Saint‑Jean projects. elliotlakestandard.ca
- 3Aluminerie Alouette will receive C$28.5 million for its C$135 million modernisation and electrolysis programme. elliotlakestandard.ca
- 4The combined projects are expected to maintain about 6,000 full‑time jobs and create 65 co‑op placements. mining.com.au
- 5Aluminerie Alouette’s modernisation aims to cut annual emissions by 25,000 tonnes CO₂‑equivalent. mining.com.au
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.